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Economic Times, Ahmedabad - January 5, 2008

Troikaa Pharmaceuticals

Troikaa Pharmaceuticals was founded in the year 1984 with 15 employees and an initial capital of Rs.8 lakh.  In the first year of its operation, the company achieved a turnover stands at Rs.16 lakh. Today the turnover stands at Rs.105 crore. The first product for the company was Tropaque – an X-Ray diagnostic equipment that was discontinued after 5 years.The turning point for the company came with the launch of Diclofenac injectables and tablets – Dynapar AQ in the year 1994.  It turned out to be a blockbuster drug.  The company launched the new version of the Diclofenac injection again in the year 2001.  The drug contributes Rs.20 crore per annum to its revenues.  The company’s major facts is on pain management drugs, critical cardiac care and oral care.  It has registered a growth of 48% last year and expect to grown in same pace in coming years.  In the domestic market, it has presence in Gujarat, Maharashtra, KP, Kerala, Karnataka, Bihar and Rajasthan, while in the international market, it has presence in South East Asia, Latin America, West Africa and East Africa.  The company has two state of the art manufacturing facilities, one each in Ahmedabad and Dehradun, four marketing divisions and more than 1,100 employees.  Troikaa has the capability to manufacture high quality critical care injectables, tablets and topical preparations.  For the year ended on March 2007, the company’s turnover stood at Rs.105 crore. Economic Times, Mumbai & Delhi- January 11, 2008 Save the ‘a’ Ahmedabad – based Troikaa Pharmaceuticals has lived upto its name.  It’s scored thrice. That is, by developing an injectables (Dynapar AQ) of lower dosage volume with much lesser pain for relief in post-operative pain, trauma pains, fractures, renal and biliary colic and other acute painful conditions. Second, the company is now on the verge of launching the product in Latin America, EU, CIS and African Countries. And finally, with this launch, it expects to garner more than 10% of the market share, the highest among 12 serious players, from the current 0.8%.  Ketan Patel, the CMD of the Rs.105 crore Troikaa, says successful clinical trials on the injectables has helped him bring down the dosage to 1ml from the existing 3ml, at Rs.14 for a dosage.  “Our aim is to increase the product technology so that we can cover market share in the longer run.” Economic Times, Mumbai & Delhi- January 14, 2008 Says Prof. Anil Gupta of IIM Ahmedabad,  ‘We can’t rely on large corporates alone to produce innovation.  The world over it’s small companies that produce the most innovative products and services. But for that we need to build a strong innovation support system.”

Similarly, Ahmedabad-based Troikaa Pharmaceuticals has successfully introduced an injectables (Dynapar AQ) of lower dosage volume for relief in post operative pain, trauma pain, fracture, renal and biliary colic and other acute painful conditions. The Rs.105 crore company managed to bring down the dose from 3ml earlier to 1ml now at Rs.14 per unit.  “Our aim is to innovate on such products and reach more markets where they are most needed,” says Ketan Patel, CMD, Troikaa Pharmaceuticals, who plans to take the product to Latin America, the EU.

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